Oil resources to end in 53.3 years according to BP

hileyms · Jul 3, 2014

A study issued by BP says the world's oil resources will end in 53.3 years based on the current extraction rate (this is 1.1% higher than last year). It does not say if this is based on current usage rate but I would assume so. :wink:

Oil resources to end in 53.3 years according to BP

Raffy.Roma · Jul 3, 2014

According to the studies that I did if all the Oil resources will be burnt something like what is shown in this video will happen:

Last Hours - YouTube

And it will not be a good thing for the Earth. Believe me.

CHGolferJim · Jul 3, 2014

People have been saying we will run out of oil for quite a long time.

Doug_G · Jul 3, 2014

We won't "run out of oil"; it will simply become more and more uneconomical to extract, and the rate of production will inevitably fall below demand. When that happens the economic impacts will be very serious. Oil prices will fluctuate wildly as the economy crashes, demand falls, economy starts to recover, oil price spikes, and lather, rinse, repeat.

FlasherZ · Jul 3, 2014

How convenient. It's just about the time I expect to die. Well, I'm sure my kids will worry about it.

Humor-impaired: Joke to me, reality for most politicians on both sides of the aisle.

Raffy.Roma · Jul 3, 2014

IMO main issue will not be of economical kind. Today CO2 concentration in the atmosphere is 400 ppm. In 2050 in the best case such a concentration will be 450 ppm but it could also be 550 ppm. If in 2100 CO2 concentration in the atmosphere will be 650 ppm corresponding to an increase ot the Temperature Anomaly of 6 degree Celsius what is shown in the video that I posted above will happen. :scared:

RichardC · Jul 3, 2014

We will not run out in a time frame that is relevant. Coal and other fossil fuels sources will be used as an alternative feedstock unless we continue to develop lower cost renewable replacements and/or put a price on carbon emissions.

See: http://en.wikipedia.org/wiki/Synthetic_fuel and http://www.worldcoal.org/coal/uses-of-coal/coal-to-liquids/

ZsoZso · Jul 3, 2014

The stone-age did not end because we ran out of stones...

CHGolferJim · Jul 4, 2014

BTW, good op-ed from Henry Paulson in NYT the other day about carbon tax and his current work.

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Oil resources to end in 53.3 years according to BP

hileyms

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Raffy.Roma

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CHGolferJim

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FlasherZ

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Raffy.Roma

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ZsoZso

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